PM Group reports strong performance for 2024

PM Group, the international project and programme management company, reported a robust underlying performance for 2024, despite a headline dip in overall revenue. While total revenue, including subcontractor activity, decreased to €494m from €566m in 2023 due to lower subcontractor engagement, the firm’s core professional services fee revenue saw a significant 5% year-on-year increase. This growth reflects heightened project activity across its global operations and underscores a resilient business model amidst a challenging economic backdrop. The company maintained strong net assets of €164m with minimal debt, providing a solid foundation for future investment. Geographically, all operating regions posted profits, with particular buoyancy noted in its largest market, Ireland, which accounts for 63% of activity, driven by multinational client investment. Europe delivered broad-based revenue growth, while the US operation expanded its footprint with a new Raleigh-Durham office and significant life sciences project wins, positioning it for substantial opportunities in 2025. Asia also contributed positively, enhancing global design capabilities. PM Group’s leadership expressed confidence in a strong project pipeline for 2025, anticipating continued investment in strategic priorities, including US and European expansion and digital transformation. The firm is embarking on a new 2026-2029 strategy, signalling ambitious growth targets and a commitment to sustainable expansion, thereby laying a clear trajectory for senior decision-makers in the construction and engineering sectors. Read More